2014 Kentucky Revised Statutes
CHAPTER 251 - GRAIN WAREHOUSES
251.690 Other duties of board.

Download as PDF 251.690 Other duties of board. The board shall have the following duties under KRS 251.410, 251.430, 251.440, 251.490, and 251.600 to 251.740: (1) Collect and deposit all assessments authorized under KRS 251.640 into the Kentucky grain insurance fund for investment by the board; (2) Transfer any moneys from the grain indemnity trust fund to the Kentucky grain insurance fund for investment; (3) Be subrogated to all the rights of the claimant. The claimant shall assign all his rights, title and interest in any judgment to the corporation. The board shall initiate any action it may deem necessary to compel the grain dealer or warehouseman against whom an awarded claim arose to repay to the Kentucky grain insurance fund the sums that are disbursed therefrom in relation to each claim; and (4) Initiate any action it may deem necessary to compel the claimant whose claim arose due to a failure to participate in any legal proceeding in relation to the claim. Effective:July 13, 1984 History: Created 1984 Ky. Acts ch. 389, sec. 10, effective July 13, 1984.